Before a ceremony to celebrate the opening of the airline's international arrival terminal at New York's John. F. Kennedy Airport, Hayes declined to outline how JetBlue's fee structure might evolve. But he admitted changes are coming.

"We certainly heard the feedback from investors and you know, we're committed to grow our returns," he said. "As our brand and product evolves, there will be new things that we're planning to do."

Hayes' vision for JetBlue will be outlined for Wall Street and investors at an investor meeting on Nov. 19. For many, the big question will be whether JetBlue expands its fees to include, among other things, charging for the first checked bag. Airlines rake in the majority of their revenues from such fees.

But these changes would be a big shift for JetBlue, which ranks fifth out of 15 U.S. carriers when it comes to collecting money for changing reservations or canceling and rebooking tickets, according to the Department of Transportation.

The DOT data on baggage fee revenues for the first half of this year show JetBlue even further behind its competitors.

In the first six months, JetBlue collected a little more than $38 million in bag fees. That's well behind industry leader Delta, which took in more than $417 million during the same period.

Baggage fees by airline through Q2 2014

Rank

Airline

2014

1

Delta

417,706,000

2

United

310,680,000

3

American

267,941,000

4

US Airways

264,566,000

5

Spirit

118,365,000

6

Alaska

55,472,000

7

Frontier

52,520,000

8

Southwest

44,324,000

9

Allegiant

43,623,000

10

JetBlue

38,415,000

Bureau of Transportation Statistics

That disparity is one reason many on Wall Street expect JetBlue to start charging for the first checked bag. Right now, it charges $50 for the second piece of luggage that is checked, and $100 if a customer checks a third bag. Delta, on the other hand, charges $25 for the first checked bag, $35 for the second and $150 for the third.